Worried about bad credit? For guaranteed online loans for bad credit, take a deep breath and relax because we’re ready for you
After having started looking for a loan, the first thing that you will surely have noticed is the huge amount of financial products that are offered by the various companies.
In recent years, especially online offers have multiplied and seem to be very successful, how come?
Online loans are often cheaper than traditional loans and it is much more common to find low-interest loans, as they are the process is faster and the procedures are simplified, in this way they are eliminated some incidental expenses.
Guaranteed online loans for bad credit via https://www.onepayday.com/ site allow you to face unexpected expenses (or the need to make purchases of fairly large sums, for example, a new car). How affordable are these loans?
These solutions are also highly appreciated for their convenience, in fact not only can you find the cheapest loans online, but also manage the whole process directly from a PC or smartphone: get a free quote, take out the loan and manage it entirely online. Usually, these types of financing, especially for small sums, can be disbursed in an extremely short time, even in 24 or 48 hours.
Obviously everyone would like to find the cheapest loan, but how do we find the absolute best loan available online? It could be like finding a needle in a haystack. First of all, we have to understand what type of financing we can access, in fact, the loans are not all the same, not only from the point of view of economic convenience but require different requirements.
What should I consider to find the best loan?
Although saving money is generally the priority, the cheapest loan is not always the best loan.
As we said, the first aspect to consider when choosing the ideal loan is the one concerning the requirements. These can be more or less restrictive depending on various factors and the credit institution, which in fact defines the characteristics that the customer must have in order to have access to credit.
Some are of the personal data type, for example, the regards of the age of the customer, for which the maximum threshold is generally 75 years.
With regards to income guarantees, for some types of loans, it is necessary to be employed or retired, in order to be able to demonstrate have a constant income every month. In other cases, self-employed workers can also receive the desired funding. So to find the best online loan it is important to check what the requirements are to be able to submit the loan application.
Cheap online loans for employees and retirees
If you are looking for an inexpensive loan online and you are an employee or pensioner, you have an advantage. You will almost certainly not have problems in receiving the amount you need, and you will have a wide choice between different types of financing. These two categories of customers are in fact considered as the most “solid” from an economic point of view by most credit institutions. The paycheck (or pension slip) in fact provides the guarantee, at the time of requesting a personal loan, of a regular monthly income.
So you will have more possibilities to choose the cheapest online loan and according to your needs. One of the most common forms of financing, created specifically for these two categories of customers, is undoubtedly the salary-backed loan.
In recent times it is increasingly in demand, as it has several advantages compared to other products available on the market. One of all is the possibility of accessing it also to those who have been reported the “bad payers”. But the main characteristic of the loan is that of providing fixed repayment installments that never exceed the salary, ie 20%, of the salary or net pension received by the customer. You will, therefore, have the certainty that the expense you will face every month for the repayment of the loan will never be too high, and therefore you will have no particular problems in repaying. In addition, the payment of the installments will take place automatically, through the holding by the bank of the monthly amount due by us.
Cheap online loans for self-employed workers
If you are a freelance worker, however, the situation will be slightly different, and unfortunately, it will be a little more complicated to get a loan. But do not despair, many of the major companies offer their customers the opportunity to receive financing without a paycheck for self-employed workers. In this case, in fact, you will have to provide an alternative income guarantee for your salary and pension. In your case, the income document that will be required from most credit companies is the tax return. In particular, at the time of the request for financing, you will have to deliver the Single Model. At this point, the bank will carry out the normal checks of the economic situation and banking history.
Since self-employed workers cannot guarantee a fixed income every month, the earnings obtained in recent years will be considered to determine a monthly repayment installment and the economic availability of the customer for each month will be estimated. At this point, the monthly installment will be set and consequently also the amount that can be requested. This is the reason why the times of disbursement of the personal loan without a paycheck are generally a little longer than those provided for other types of loans such as the salary-backed loan.
Use comparator to save time and money
Loan comparators are extremely useful tools for finding cheap loans online as they allow you to save a lot of time compared to a manual search for the best rates offered by various companies.
This service is offered to you by Lite completely free of charge! How does it work? By inserting different parameters, such as the amount requested, the duration of the loan and so on, the search engine finds the promotions and rates that are offered by the various banks and financial companies operating on the Italian territory. You will, therefore, be sure that the comparator allows you to find the updated and best offers on the market. You will immediately have many solutions, once you have identified the cheapest online loan, just choose it with a single click!
What documents are needed?
You will then need to submit the necessary documentation to the finance company.
As a rule, you will need to send a valid identity document, the tax code, sometimes one of the last utility bills of your home and a certification regarding your profitable situation, such as the latest payslips, of the pension slips or the most recent tax return.
If your application is accepted, you will be presented with a monthly repayment plan, including interest and any charges. The installment depends on some factors, the first of which is obviously the amount and duration of the loan itself, and the two interest rates, the TAN and the APR, are applied to these two variables.